Corporate | 10 November 2015 09:25
Muehlhan AG publishes figures for the first nine months of 2015
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DGAP-News: Muehlhan AG / Key word(s): 9-month figures/Quarter Results
PRESS RELEASE Muehlhan AG publishes figures for the first nine months of 2015 – 9.8% year-on-year increase in sales revenues – EBIT of EUR3.9 million for the first nine months – Executive Board confirms 2015 earnings forecast, albeit at the lower end of the expected range Hamburg, 10 November 2015 – Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) ended the first three quarters of 2015 with sales of EUR181.9 million (prior-year period: EUR165.7 million) and earnings before interest and taxes (EBIT) of EUR3.9 million (prior-year period: EUR5.9 million). After-tax earnings stood at EUR1.9 million, slightly lower than the prior-year figure of EUR2.2 million. During the third quarter, the company generated EUR63.5 million of sales and EBIT of EUR0.9 million. EBIT was heavily affected by lower prices and overcapacity in the oil and gas business in the North Sea and by project losses in Germany. An analysis of sales revenues by geographic region shows the following picture. In Europe, sales revenues increased by 4.3% from EUR136.9 million in the first nine months of 2014 to EUR142.7 million in the first nine months of 2015. In North America , Muehlhan’s sales increased 26.9% to EUR16.5 million (prior-year period: EUR13.0 million). In the region covering Asia and the rest of the world , sales revenues rose by EUR7.0 million to EUR22.8 million. This figure includes EUR7.6 million in sales from Marine Service International AS (“MSI”), a company that was acquired during the fiscal year. The company’s performance over the past nine months also looks satisfactory when sales are broken down by business segment . The Ship segment’s sales growth continued, with sales revenues rising from EUR64.6 million to EUR74.3 million over the period. The increase does not reflect a trend reversal, but instead is attributable to major current projects and increases in market share in a stagnating market that presumably will continue to decline. The Oil & Gas segment managed to expand sales to EUR36.4 million (prior-year period: EUR35.3 million) despite weaker business in the North Sea. The main reason behind the increase is the addition of sales from MSI, due to the acquisition of the company. In the Wind Energy segment, the increase in sales to EUR15.7 million (prior-year period: EUR11.5 million) was driven primarily by transformer platforms for offshore wind farms in Germany and Great Britain and the start-up of turbine production for the latest generation of offshore wind facilities in Denmark. The Industry and Infrastructure business posted EUR55.4 million of sales revenues between January and the end of September 2015, compared with EUR54.3 million for the same period in 2014.
Outlook
The Company’s key financial indicators are shown in the following table:
1 EBITDA: Profit from operations and depreciation
Press contact: Muehlhan AG; Tel: +49 40 75271-150; E-mail: investorrelations@muehlhan.com 2015-11-10 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Muehlhan AG | |
| Schlinckstrasse 3 | ||
| 21107 Hamburg | ||
| Germany | ||
| Phone: | +49 40 75271 0 | |
| Fax: | +49 40 75271 130 | |
| E-mail: | investorrelations@muehlhan.com | |
| Internet: | www.muehlhan.com | |
| ISIN: | DE000A0KD0F7 | |
| WKN: | A0KD0F | |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt | |
| End of News | DGAP News Service |
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410783 2015-11-10
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